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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: Justa Werkenstiff who wrote (8252)8/30/1999 8:47:00 PM
From: Les H  Read Replies (1) of 15132
 
"And while conventional wisdom might suggest you heed Uncle Al's warning, "the bull is alive and well" according Abbey Joseph Cohen in this week's Barron's. She says the stock market is only in a range of 5% overvalued to 5% undervalued, hardly the excess expected at market peaks. She is expected to release new, and presumably higher, targets for broad stock indices after 2Q earnings results are in. And she is also calling for the Fed to hike rates again at the Oct 5 FOMC meeting. "

From a Talk From the Trenches article I posted earlier today. I gather she's waiting for the market swoon before she posts her revised target for the market.

She had also said in Barron's that the market had priced in 1 or 2 more rate hikes. Hard to understand this to be the case. Bank of Montreal is expecting 3 more by mid-2000.
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